Investors Clinic in talks to raise about Rs 975 crore to fuel growth

Investors Clinic, which counts cricketer Yuvraj Singh among its minority shareholders, plans to use the money for expanding its network across India and overseas.Sobia Khan | ET Bureau | October 21, 2015, 08:04 IST

Motilal Oswal Private Equities currently owns 22 per cent in Mrs Bector's, which it bought out from the Goldman Sachs' arm in 2010.BENGALURU: Investors Clinic, India’s largest online real estate transactions and services platform, is in talks with large private equity funds and foreign banks to raise about $150 million (nearly Rs 975 crore) to fuel its growth.

“We want to expand to more than 300 cities in India and 20 locations overseas with highest NRI population to support homebuyers through their dream home journey” said Honey Katyal, founder and chief executive of Investors Clinic, without disclosing the names of the investors.

Investors Clinic, which counts cricketer Yuvraj Singh among its minority shareholders, plans to use the money for expanding its network across India and overseas besides doubling its employee strength.

The company currently employs 2,040 people across India, up from 986 in 2011-2012.

“We have significantly invested in technology that has helped us scale up from selling mere 100 units a month to over 15,000 units per annum,” said Nishant Singhal, director-strategy, Investors Clinic.

Singhal said the company has been EBITDA and profit after tax positive for the past four years and is completely debt free. The firm is expected to achieve annual gross transaction volume (GTV) of $3 billion (about Rs 19,500 crore) by 2017-18, he said.

The Delhi-headquartered company has executed real estate transactions worth $1.5 billion in the past 18 months and is on its way to achieving GTV of over $1.2 billion (more than Rs 7,800 crore) in 2015-16 The real estate platform has sold over 90,000 homes in the past six years. It has one of the largest interactive voice response platforms and it has managed over 600,000 queries per annum, generating cash flows of more than Rs 180 crore annually for the past three financial years.

“We have more than 50,000 units across over 600 projects in more than 20 cities, at any point of time on our platform. This helps in providing more than 30 handpicked options to any client with detailed market analysis,” said Katyal.

As per industry estimates, real estate brokerage market in India is pegged at about $4 billion. In the past decade many real estate startups such as CommonFloor, Square Yards, Housing.com and PropTiger catering to diverse subsets of real estate business have emerged.